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    009: Can we capitalize a customer list under IFRS?

    by Silvia

    If you purchase a customer list from someone else, can you actually capitalize it (recognize it as an asset)? Isn’t is just the same as the advertising expense? When can you capitalize a customer list under IFRS? Learn here!

    Non-current Assets, Podcasts 47
    IAS41 Agriculture

    Top 3 Questions about IAS 41 Agriculture

    by Silvia

    I rarely publish articles about specific sectors, but this time, I decided to make an exception. Why? The reason is that although most of you do NOT deal with agriculture, it is still one of the most important industries in the world. It is so…

    Current Assets, Non-current Assets 148
    Impairment of Goodwill

    How to Test Goodwill for Impairment

    by Silvia

    When a company acquires control over another company, then often a goodwill arises, too. You should present it as an intangible asset, but when you think about it carefully, a goodwill is not a typical asset, because unlike other assets, you cannot sell it to…

    Consolidation and Groups, Non-current Assets 88
    IFRS 5 summary

    Summary of IFRS 5 Non-current Assets Held for Sale and Discontinued Operations

    by Silvia

    When a company (or another entity) plans to sell an asset and / or stop some part of its business, then it might affect its future cash flows, profitability and overall financial situation. Therefore, the users of financial statements, mainly investors, should be informed about…

    IFRS Videos, Non-current Assets 104
    Directly Attributable Costs IFRS

    What are directly attributable costs?

    by Silvia

    When you acquire a long-term asset, you can include directly attributable costs to the initial measurement of its cost. Although IFRS define directly attributable expenses quite clearly and provide a few examples, there are many different items we are not sure about. In this article,…

    Most popular, Non-current Assets 217
    IAS 40 Investment Property

    Summary of IAS 40 Investment Property

    by Silvia

    Many accountants falsely believe that there’s only one standard that deals with long-term tangible assets: IAS 16 Property, Plant and Equipment. While it’s true that you need to apply IAS 16 for most of your long-term tangible assets, it’s not the one ruling all. I…

    IFRS Videos, Non-current Assets 207
    When to start depreciation

    When to start depreciation?

    by Silvia

    After graduating from a university I started my career in a famous, then Big 5 audit company. If you work in auditing I bet you got the worst tasks and assignments during your first year at work! Just as I did. I remember taking part…

    Non-current Assets 146
    IAS 20 Government Grants

    How to Account for Government Grants (IAS 20)

    by Silvia

    Almost every government supports certain companies or business by providing grants or other kind of assistance. As this is clear benefit and advantage comparing with other companies without such an assistance, it should be properly reported in the financial statements. How? Let’s explain the rules…

    IFRS Videos, Non-current Assets, Provisions and Other Liabilities 228
    Current or non-current IFRS

    Current or Non-Current?

    by Silvia

    Most balance sheets present individual items in distinction to current and non-current (except for banks and similar institutions). This seems so basic and obvious that most of us do not really think about classifying individual assets and liabilities as current and non-current. We do it…

    Current Assets, Financial Instruments, Financial Statements, Non-current Assets 99
    Monetary or non-monetary?

    Monetary or Non-Monetary?

    by Silvia

    When you need to translate your items denominated in foreign currency to your own functional currency, then there’s one little problem: Is that item monetary or non-monetary? If you determine the nature of your item incorrectly, it can lead to totally wrong presentation in the…

    Financial Instruments, Foreign Currency, Most popular, Non-current Assets 281
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